FAQs

If you have any questions, we are here to help.
What is drip?

drip is an app to learn to invest and build long-term wealth.

We offer interactive learning experiences, minor accounts for under 18s with parental controls, 15 investment options with unlimited transactions, and a minimum of only $5 to start.

Who is behind drip?

Drip is an initiative of BetterLabs Ventures, a $23m Venture Fund operating out of Western Australia.

BetterLabs has supported many startups in the fintech and education space, such as WeMoney and IDEA Academy. We have a team of professionals in finance, education and innovation.

drip is licensed in Australia as a representative of Cache Investment Management. We offer investment options from the Cache Multi-Class Investment Fund, issued by K2 Asset Management.

Is drip safe?

Yes, drip is a safe and legitimate micro investing app!

drip uses encryption protocols to ensure your information is fully protected, we have robust processes against fraudulent and criminal activity, and we are continuously monitoring for unusual or suspicious activities.

Also, as a parent, you can turn off the access to investment options at any time and set up limits for how much your teen can drip.

All investments carry risk.

How does drip work?

It is an Australian legal requirement to be 18 years or over to make investments, so the parent/legal guardian is the one with the control over the investments.

Teens can research investment options and make suggestions, and the parents approve or reject them, having the final say in the investment decisions.

Parents have the option to setup a Minor or an Adult Account, depending on who they want the ultimate beneficiary of the investment to be.

How much does drip cost?

At drip, we understand the importance of affordability and education. This is why drip was designed to make micro-investing more accessible and encourage learning 😊

🎓Educational membership:

drip was entirely designed to be an educational hands-on experience and, for a limited time only, we are offering the educational membership for free for the first customers.

In the future, we may start charging for educational resources, but rest assured: you don't need to subscribe to the education service to invest!

For more information, please read our Term & Conditions and Schedule of Fees and Promotional Deals.

💹Financial product:

Our investment product charges just 0.8% pa on investment accounts - equal to just $8 per year (or 66c per month) on a $1k balance, which is less than the cost of one trade at many brokers.

For small balances, share trading platforms may not work well, as brokerage and other fees can end up higher, and they often have minimum trade sizes and fees.

drip offers a smart way to invest small amounts in carefully selected ETFs without having to worry about saving big lumps of money or paying fixed transaction fees.

Additional costs, such as the management fee charged by the ETF manager, apply. For more information on the investment options, please read the PDS and TMD.

What makes drip a good investment?

drip offers a smart way to invest small amounts in carefully selected ETFs without having to worry about saving big lumps of money or paying fixed transaction fees, such as brokerage.

Our fees are charged as a percentage of the value invested, allowing to maximise the learning by diversifying your portfolio.

Please consider your personal circumstances and read our Product Disclosure Statement for more information. All investments carry risk.

How much money do I need to start?

You can start from only $5!

After you make your first $5 deposit, you can move money between investment options without a minimum amount.

Will drip help my teens learn about investing?

Absolutely! Teens learn by doing. They can use their app to look up companies and investment options, make investment suggestions, track how the investments are doing and more.

It will be a great educational topic for the dinner table.

Why is investing important for teens?

Age 13-17 is a key moment for teens. They are starting to make independent financial decisions and use financial products.  

There are lots of significant financial firsts, such as getting a debit card, receiving their first pay or learning about superannuation. And if they are not supported in those complex decisions, there is a risk of getting into trouble.

Studies show that 43% of 18 to 24's old Australians  can't meet their personal debt obligations, with 90% of young Australians experiencing some financial difficulty (2021data).

That’s why drip gives them the chance to learn in a safe environment, while they have you and time by their side.

With guidance and time, teens can leverage the power of compounding to grow their wealth and the ability to be patient during the inevitable bouts of market volatility.

What is a Minor Account?

Whether you require an Adult or Minor Account depends on whether you want to you or the Minor to be the ultimate beneficiary of the investments.

A Minor Account is an investing accounts in which the parent act as a trustee for the teen’s money, with the teen’s name on the record.

This means the teen is the ultimate beneficiary of all investments, and the parent is taking care of it until they turn 18.

At any point after the teen turns 18, it is possible to request the account to be transferred to their name, gaining full ownership of the account (subject to additional KYC processes).

Only a parent or a legal guardian can open a Minor Account, so you will need to upload a birth certificate or a Medicare card to prove the relationship.

What is an Adult Account?

Whether you require an Adult or Minor Account depends on whether you want to you or the Minor to be the ultimate beneficiary of the investments.

An adult account can be created by a parent or any other person above 18 years of age. In this account, the teenager will be able to explore and make investment requests, but the investment is kept in the parent’s name.

Imagine a “dedicated bucket” for your teen in your personal account.

You can continue to manage any investments with drip even after your teen turns 18, and also redeem any investments at any point.

Is there a minimum age to use drip?

After an adult parent creates an account, there is no minimum age to use drip. We designed the learning experience for teenagers, but you can start can start investing and engaging your kid as early as you’d like.

You can start saving from the moment you get pregnant. We support kids and grownups of all ages. No minimum (or maximum) age here.

Can I use drip if I’m over 18?

Yes, absolutely! If you're over 18, you don't need a parent to start investing on drip, and can access all of our interactive learning experiences to learn about investing and money. There is never a wrong time to get smart about money!

What investment options does drip offer?

drip understands that true financial success can come fromdiversifying your investments. That's why we created a bunch of differentinvestment options, each of them with 1 or 2 ETFs inside.

From ETFs of well-known companies in different regions like Australia, US and Asia to precious metals like gold and even crypto. We also have options that include different assets and cater for your risk profile, like balanced or growth.

Parents and teens can explore each of them in detail in the app and in our Investment Options List here.

How does the drip wallet work?

After the parent signs-up, they can easily and safely link their bank account for direct debit deposits and withdrawals. Only a parent can link a bank account, and only one bank account can be linked to drip’s wallet.

All drip investments are done from the wallet, and teenagers can see the wallet balance at any point in time.

How do I invite my parent to drip?

After you download the app, you'll be prompted to enter your parent's phone #, and you can send them an invite right from the drip app!

What controls do I have as a parent?

You can decide which investment options your teen can see, explore and suggest.

You also have the authority to approve or deny your teen's investment requests, as well as set limitations on how much they can suggest.

What educational features does drip offer?

drip was entirely designed to be an educational hands-on experience. All screens are simple and graphic, and have explainers of main concepts to help teens become financially savvy effortlessly.

They can also reach out to Splash, their financially savvy chatbot coach. Splash will provide them with an interactive learning experience, passing through different levels and gaining points on the way.

The lessons cover fundamental finance and investing concepts and beyond. Teens can learn about risk, diversification, shares, ETFs, strategies and more.

How can I withdraw funds?

In the settings page of the parent app, you should see a "Withdraw" button. Clicking this will lead you to the withdraw page, where you can withdraw funds to the bank account linked. Only parents can deposit and withdraw funds.

Do I need to pay to use drip?

drip is currently offering a limited time welcome deal and customers can access the educational membership free.

Please read the PDS, TMD and Term & Conditions for further information.

Why does drip charge a learning subscription fee?

Unlike other investing apps, drip’s main is focus on the learning experience. Our mission is to help the next generation achieve long-term financial success, so we chose not to focus on investment volume nor transaction fees.

We want to encourage teenagers to build the right behaviours, saving consistently and exploring a diversified portfolio.

This is why we offer unlimited transactions without transaction fees that may impact the investment return. If we charged $2 per transaction, it wouldn’t make sense to invest $5, right? Other costs may apply.

In turn, in order to cover the costs, we need to charge a subscription fee for access to our services. We believe this is the best way to align incentives between us and our customers and enable us to continue providing a premium product for our clients.

Please read the PDS, TMD and Term & Conditions for further information.

How can I cancel my subscription?

You can cancel your subscription at any time in the Apple or Android App stores subscription management page.

How much tax do I pay?

Taxation rules for children are different from the taxes you pay as an adult.

drip is not a registered tax agent and cannot provide any advice on tax. We recommend you get professional taxation and/or financial advice before opening a drip account.

General information from the Australian Taxation Office(ATO) on children’s investments can be accessed at: Children's share investments | Australian Taxation Office (ato.gov.au)

Can I ask for my data to be deleted from drip?

You can ask for some of your data to be deleted and still keep the account, or you can ask for all of your data to be deleted when closing your account. To make a request or close your account, please reach us via hello@dripinvest.com.au.

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